GM Slips Despite Q1 Beat As Analysts Stay Bullish, Raise Targets

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Shares of General Motors Co (NYSE: GM) slipped in early trading on Tuesday, after the carmaker reported first-quarter (Q1) results.

Here are the key analyst insights:

  • Wedbush analyst Dan Ives maintained an Outperform and price target of $95.
  • Goldman Sachs analyst Mark Delaney reiterated a Buy rating and price target of $91.
Wedbush: GM reported total revenue of $43.62 billion. That's above Street expectations of $43.51 billion, despite a decline of around 10% year-on-year in its U.S. automotive sales. The company also saw significant momentum in its software and services business. Its EV business delivery rose slightly versus the previous quarter.

Earnings came in at $3.70 per share, topping the consensus of $2.60 per share, Ives said. GM raised its full-year guidance across the board and noted that it is "shifting its business to higher-margin revenue streams to drive long-term cash flow generation," he further wrote.

Goldman Sachs: General Motors reported total revenue, earnings and EBIT higher than consensus estimates, Delaney said in a note. The company increased its 2026 guidance for adjusted EBIT from $13.00-$15.00 billion to $13.5 billion-$15.5 billion and for adjusted earnings from $11.00-$13.00 per share to $11.50-$13.50 per share, versus Street expectations of $13.95 billion and $12.20 per share, respectively, he added.

Management noted that the raised guidance reflects lower tariff costs of $2.5-$3.5 billion from the IEEPA tariff adjustment, versus their previous projection of $3-$4 billion, the analyst states.

"GM also expects a headwind from commodity inflation, including logistics and higher DRAM costs, of $1.5 bn-$2.0 bn for the full year, with the impact from FX being neutral," he further wrote.

GM Price Action: Shares of General Motors had declined by 2.28% to $76.18 at the time of publication on Tuesday.